Poolwerx CEO Nic Brill expresses that while the Federal Budget 2024-25 presents some positives for SMBs, there’s room to further support the backbone of the Australian economy.
Here are Nic’s key takeaways:
“While I welcome the extension of current measures, including the $20,000 instant asset
write-off and energy bill relief, there could have been more investment opportunities, as well as forward-thinking government policies in recognition of the vital contributions SMBs make to the Australian economy.
Small businesses are the foundation of our country’s economy, so it’s refreshing to see the government stayed true to their word by prioritising cost-of-living relief in this budget, with the forecasted reduction of inflation expected to fall into the Reserve Bank of Australia’s target range to reduce interest rates.
By achieving the target rate, this should mean lowering of the cash rate to provide relief for homeowners. I’m confident this will have a positive flow-on impact on consumer spending and the retail sector, potentially revitalising economic activity and instilling greater confidence in the market.”
As for how the budget directly impacts Poolwerx, Nic said it is a positive step for Franchise Partners and clients, especially as the company is seeing more and more DIYers enter the Poolwerx network and enquire about investment opportunities.
For almost 20 years, Nic has served in key leadership roles for global and national brands including Donut King, Gloria Jeans, King Island Dairy, Nescafé, and Vitasoy. His demonstrated history as a business leader in the franchising and retail industries has equipped Nic with critical insights into understanding the core values of the Australian small business owner.